ONE Group Hospitality Files Q2 2024 10-Q
Ticker: STKS · Form: 10-Q · Filed: Aug 6, 2024 · CIK: 1399520
| Field | Detail |
|---|---|
| Company | One Group Hospitality, Inc. (STKS) |
| Form Type | 10-Q |
| Filed Date | Aug 6, 2024 |
| Risk Level | medium |
| Pages | 15 |
| Reading Time | 19 min |
| Sentiment | neutral |
Sentiment: neutral
Topics: 10-Q, financials, quarterly-report
Related Tickers: STKS
TL;DR
**ONE Group Hospitality (STKS) Q2 2024 10-Q filed. Check financials.**
AI Summary
ONE Group Hospitality, Inc. filed its 10-Q for the period ending June 30, 2024. The filing details financial performance and operational updates for the second quarter. Key financial data and disclosures relevant to investors are presented, including balance sheet items and cash flow information.
Why It Matters
This filing provides investors with the latest financial health and operational performance of ONE Group Hospitality, Inc., crucial for making informed investment decisions.
Risk Assessment
Risk Level: medium — 10-Q filings are standard financial reports, but the specific details within can reveal significant financial health indicators or operational challenges.
Key Players & Entities
- ONE Group Hospitality, Inc. (company) — Filer of the 10-Q
- 0001558370-24-011112 (other) — Accession Number for the filing
- 20240630 (date) — Period of report for the 10-Q
- 20240806 (date) — Filing date of the 10-Q
- 411 W. 14TH STREET (address) — Business and mailing address of the company
FAQ
What is the reporting period for this 10-Q filing?
The 10-Q filing is for the period of report ending June 30, 2024.
When was this 10-Q filed with the SEC?
This 10-Q was filed on August 6, 2024.
What is the company's primary business classification?
The company's Standard Industrial Classification is RETAIL-EATING PLACES [5812].
What is the company's fiscal year end?
The company's fiscal year ends on December 31.
What are some of the financial statement items mentioned in the filing data?
The filing data references items such as Treasury Stock Common Member, Series A Preferred Stock Member, Additional Paid In Capital Member, and Common Stock Member.
Filing Stats: 4,628 words · 19 min read · ~15 pages · Grade level 19 · Accepted 2024-08-06 16:38:09
Filing Documents
- stks-20240630x10q.htm (10-Q) — 2682KB
- stks-20240630xex31d1.htm (EX-31.1) — 10KB
- stks-20240630xex31d2.htm (EX-31.2) — 10KB
- stks-20240630xex32d1.htm (EX-32.1) — 5KB
- stks-20240630xex32d2.htm (EX-32.2) — 5KB
- 0001558370-24-011112.txt ( ) — 10026KB
- stks-20240630.xsd (EX-101.SCH) — 65KB
- stks-20240630_cal.xml (EX-101.CAL) — 88KB
- stks-20240630_def.xml (EX-101.DEF) — 210KB
- stks-20240630_lab.xml (EX-101.LAB) — 528KB
- stks-20240630_pre.xml (EX-101.PRE) — 437KB
- stks-20240630x10q_htm.xml (XML) — 1728KB
– Financial Information
PART I – Financial Information
Financial Statements
Item 1. Financial Statements 3
Management's Discussion and Analysis of Financial Condition and Results of Operations
Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 21
Quantitative and Qualitative Disclosures About Market Risk
Item 3. Quantitative and Qualitative Disclosures About Market Risk 35
Controls and Procedures
Item 4. Controls and Procedures 35
– Other Information
PART II – Other Information
Legal Proceedings
Item 1. Legal Proceedings 36
Risk Factors
Item 1A. Risk Factors 36
Unregistered Sales of Equity Securities and Use of Proceeds
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 37
Other Information
Item 5. Other Information 38
Exhibits
Item 6. Exhibits 40
Signatures
Signatures 41 2 Table of Contents
FINANCIAL INFORMATION
PART I. FINANCIAL INFORMATION
Financial Statements
Item 1. Financial Statements THE ONE GROUP HOSPITALITY, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (in thousands, except share information) June 30, December 31, 2024 2023 ASSETS (Unaudited) Current assets: Cash and cash equivalents $ 32,247 $ 21,047 Credit card receivable 10,979 7,234 Restricted cash and cash equivalents 552 — Accounts receivable 9,287 10,030 Inventory 9,164 6,184 Other current assets 4,849 1,809 Due from related parties 376 376 Total current assets 67,454 46,680 Operating lease right-of-use assets 271,160 95,075 Property and equipment, net 260,385 139,908 Goodwill 145,162 — Intangibles, net 146,193 15,306 Deferred tax assets, net 45,236 14,757 Other assets 8,639 4,636 Security deposits 1,635 883 Total assets $ 945,864 $ 317,245 LIABILITIES, SERIES A PREFERRED STOCK AND STOCKHOLDERS' EQUITY Current liabilities: Accounts payable $ 26,723 $ 19,089 Accrued expenses 52,474 28,333 Current portion of operating lease liabilities 16,523 6,897 Deferred gift card revenue and other 6,715 2,077 Current portion of long-term debt 3,500 1,500 Other current liabilities 559 266 Total current liabilities 106,494 58,162 Long-term debt, net of current portion, unamortized discount and debt issuance costs 330,861 70,410 Operating lease liabilities, net of current portion 294,171 120,481 Other long-term liabilities 5,116 832 Total liabilities 736,642 249,885 Commitments and contingencies (Note 17) Series A preferred stock, $ 0.0001 par value, 160,000 shares authorized; 160,000 issued and outstanding at June 30, 2024 and 0 issued and outstanding at December 31, 2023 143,481 — Stockholders' equity: Common stock, $ 0.0001 par value, 75,000,000 shares authorized; 33,765,978 issued and 31,297,200 outstanding at June 30, 2024 and 33,560,428 issued and 31,283,975 outstanding at December 31, 2023 3 3 Preferred